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Business, 01.10.2019 22:20 Jasten

You are planning to save for retirement over the next 15 years. to do this, you will invest $1,100 a month in a stock account and $500 a month in a bond account. the return on the stock account is expected to be 7percent, and the bond account will pay 4 percent. when you retire, you will combine your money into an account with a 5 percent return. how much can you withdraw each month during retirement assuming a 20-year withdrawal period?

(a) $2,636.19
(b) $2,904.11
(c) $3,008.21
(d) $3,037.36
(e) $3,406.97

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